The Wagner Daily – August 30, 2021
Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).
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MTG Market Timing Model – buy mode (but cautious)
Our timing model was designed to keep our trades in line with the prevailing market trend, not to call tops or catch bottoms in S&P 500 or Nasdaq Composite.
today’s watchlist (potential trade entries):
closed positions:
position notes:
- No trades triggered.
The Nasdaq Composite responded favorably to last Thursday’s selling by posting a solid trend day to the upside. We also liked the action in $IWM, which rallied +2.8% and reclaimed the 50-day MA (daily) and 10-week MA (weekly).
Overall, the current rally is in good shape and we plan to add more exposure as setups develop.
There are two new setups for Monday’s session.
We are adding to our position in $AMD over last week’s high, looking for the price to hold the 10-day EMA.
$MELI is also potentially in play as it looks to breakout from the handle portion of a cup with handle pattern.
There are two buy points. The first is a buy over last week’s high and the add is over the handle high.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- $ZI – buy at 63.80
- $HOOD – buy at 48.30 for a short-term pop
- $DXCM – buy at 529.00
- $DAC – buy at 85.62 (short term pause in strong uptrend)
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